Since ASC 606 and IFRS 15 have been in effect, companies of all sizes and sectors have been working to establish or improve their revenue recognition process.
Accurate revenue accounting is challenging, especially for subscription/SaaS companies as they encounter high volume contracts with customized offerings, complex revenue models and continuous plan modifications, resulting in the need for a more scalable revenue recognition solution.
While automation of revenue recognition may be a sensible decision, there are multiple factors to consider when selecting the right solution.
- GAAP Compliant (ASC 606/IFRS 15)
- Integration with Source systems
- Revenue Subledger
- Automated Stand-alone Selling Price (SSP)
- Advanced Revenue Recognition scenarios
- Reporting and Analytics
What you'll learn from this guide:
- How the implementation of ASC 606 / IFRS 15 has changed the way SaaS / subscription businesses must recognize revenue.
- Current challenges with revenue recognition SaaS/subscription businesses are facing in today’s market.
- A step-by-step guide you should consider when evaluating a revenue recognition solution for your business.